Warren Buffett’s Wise Words
Legendary investor Warren Buffett famously advises to be fearful when others are greedy and greedy when others are fearful. In financial circles, one measure used to gauge the level of fear in a particular stock is the Relative Strength Index (RSI), which ranges from 0 to 100. Stocks are deemed oversold when their RSI dips below 30.
On a tumultuous Tuesday trading session, shares of Goosehead Insurance Inc. (Symbol: GSHD) plunged into oversold territory with an RSI of 28.8, dipping as low as $62.7701 per share. For comparison, the current RSI of the S&P 500 ETF (SPY) stands at 63.7. For the savvy investor, GSHD’s RSI reading of 28.8 may signal that the recent selling frenzy is running out of steam, paving the way for potential buying opportunities. The chart below illustrates the one-year performance of GSHD shares:
Striking Market Range
Analyzing the chart, GSHD’s 52-week low sits at $48.77 per share, while the high point reaches $92.76. This stark contrast aligns with the recent trade price of $62.94.
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Please note that the opinions expressed here are those of the author and do not necessarily mirror those of Nasdaq, Inc.
